Way Linggo Long Section
latest news...
Way Linggo Update - August 2010 (Part 1)
Way Linggo Update - August 2010 (Part 2)
Kingsrose pour first gold/silver from Way Linggo
One of the world’s lowest cost gold mines started production earlier today when Australian-listed Kingsrose Mining (ASX:KRM) poured its first bars at the Way Linggo mine on the Indonesian Island of Sumatra.
Annual output is expected to be at an initial rate of 45,000 ounces of gold at a cash cost of $US147 an ounce which is more than $US1000 per ounce lower than the current world gold price.
Commissioning Update Way Linggo
This is a summary of the commissioning status of the various plant processes:
- Crushing circuit – 100%
- Milling circuit – 100%
- Leach circuit – 100%
- CCD thickener circuit – 100%
- Merrill Crowe circuit – working but flow rate modifications not yet finalised
- Gold Room – 100%
Quarterly Activities Report - 30 June 2010
Quarterly Cashflow Report - 30 June 2010
Amended - Update on Company Activities
Way Linggo - a large milestone has been reached with the Way Linggo Project receiving FINAL approval of its forestry permit, valid for a period of 20 years.
Corporate - Kingsrose’s cash balance has been boosted by $1.3m from exercised share options and $4.2m from ore sale receipts from the Comet Vale project.
Comet vale - Kingsrose will be exiting Comet Vale on favourable terms, effective 31 May 2010.
Sardinia - approximately 4,900 samples have been collected from drilling and these samples have now been dispatched for preparation and analysis.
Quarterly Activities Report
Way Linggo Gold Project (85% KRM)
- High grade ore of approximately 16,640 tonnes grading 20.5g/t Gold and 241g/t Silver has been stockpiled at the surface.
- Commissioning of 400tpa Meryl Crowe plant anticipated to take place at the end of May 2010.
Comet Vale Gold Project (Production JV)
- Level 4 Block 1 Stope completed producing 7,092t at a grade of 17.8g/t Au for this period.
Corporate
- Kingsrose raises A$8,520,000 (net).
- 42.5m shares released from escrow.
- Unlisted options: 150,000 issued; 300,000 exercised.
Media Release
Kingsrose Mining Limited (ASX “KRM”) is applying the finishing touches to its Way Linggo gold project on the Indonesian island of Sumatra with plant commissioning scheduled for the end of May.
The company also said in its March quarter report filed at the ASX today that drilling had started at its second major asset, the “SARINC” zinc and lead tailings project on the Italian island of Sardinia.
Kingsrose executive chairman, John Morris, said the past three months had seen significant developments in shaping the future of the company...
New Gold Resource for Sand Queen Gold Mine
Resource increased to 186,000 oz Au.
Increase in grade from 8.6 to 10.8 g/t Au.
Robust geological model based on mine production.
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